At a glance
FUNL charges 0.5% a year, above the 0.29% average of the 8 funds most like it (the 7th cheapest of 9). It has $203.9M in assets, the 8th largest of that group; it paid 2.25% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +7.8% with distributions reinvested (S&P 500: +11.5%), the weakest of those 9 funds; over three years it returned +18.1% a year. At its worst it fell 19.3% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months after the low. Its ten largest positions make up 15.3% of the fund, out of 151 in all.
The short version
CornerCap Fundametrics Large-Cap ETF (FUNL) is an actively managed fund. It holds about 150 large U.S. companies chosen by Fundametrics, a computer-driven stock-scoring system from CornerCap Investment Counsel that gives the most weight to valuation. Its yearly fee of 0.50% is above the 0.29% average of similar funds. It also had the lowest one-year return of the nine similar funds compared through October 27, 2026.
Price history
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FUNL +7.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| FUNL official prospectus, to Dec 31, 2024 | — | — | — | — | — | +14.30% |
| FUNL price data to Oct 27, 2026 | +5.7% | +7.8% | +18.1% | +9.3% | — | +10.7% |
- Over the year to Oct 27, 2026, FUNL returned +7.8%, 9th of 9 among similar funds.
- Its 5-year annualized return was +9.3%.
- Its worst full calendar year was 2022 (-5.8%); its best was 2024 (+15.5%).
- The deepest fall in its price history was 19.3% (Jan 14, 2022 to Sep 30, 2022), recovered by Aug 1, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +5.7% | — |
| 2025 | +14.6% | — |
| 2024 | +15.5% | +15.98% |
| 2023 | +14.3% | +13.94% |
| 2022 | -5.8% | -5.69% |
| 2021 | — | +25.90% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 16.4% over that stretch · deepest drop along the way 19.3%, back to its old high 10 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.1300 | |
| 2025 | $0.9800 | +32.4% |
| 2024 | $0.7400 | +19.4% |
| 2023 | $0.6200 | +3.3% |
| 2022 | $0.6000 |
What's inside
As of Dec 31, 2025, the fund held 151 securities; the ten largest made up 15.25% of assets, and 2.53% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| Johnson & Johnson | 2.20% | |
| Wells Fargo & Co | 1.93% | |
| Cisco Systems Inc | 1.82% | |
| Citigroup Inc | 1.51% | |
| Newmont Corp | 1.40% | |
| Alphabet Inc | 1.35% | |
| Lam Research Corp | 1.32% | |
| JPMorgan Chase & Co | 1.31% | |
| Merck & Co Inc | 1.22% | |
| AbbVie Inc | 1.18% | |
| ConocoPhillips | 1.16% | |
| CVS Health Corp | 1.10% | |
| Charles Schwab Corp | 1.09% | |
| Meta Platforms Inc | 1.02% | |
| Honeywell International Inc | 0.99% |
By country
United States 95.6%Ireland 2%United Kingdom 1.15%Australia 0.52%Netherlands 0.28%By asset type
Stocks 99.54%By sector
Sectors of the companies held, for the 75.5% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Dec 31, 2025. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Dec 31, 2025, investors withdrew a net $2.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -0.17%, +1.99%, +1.43%.
How it works
FUNL does not track an index. Its adviser, CornerCap Investment Counsel, picks stocks with Fundametrics, a quantitative system, which means a rules-based computer model rather than one manager's judgment. At least 80% of net assets go into large companies, defined as those in the size range of the Russell 1000 Index when bought. The model sorts companies into custom peer groups of similar businesses. It then scores each group on more than 120 factors, including value, growth, price momentum, quality and risk. Valuation carries the most weight.
Buying and selling follow two screens. The Alpha Composite ranks about 500 companies and stresses relative valuation, earnings growth and cash flow. Only the top 30% can be bought. The Financial Warnings Overlay then removes high-ranked stocks that show warning signs in earnings quality, debt levels, profitability or investor sentiment. The fund buys stocks that pass both screens and improve diversification. It sells stocks that drop out of the top 30% or get flagged. The prospectus sets no fixed rebalancing schedule. Portfolio turnover was 29%, meaning about that share of holdings was replaced over the year.
The fund may lend up to one-third of its assets to brokers to earn extra income. As of December 31, 2025, it held 151 stocks and no derivatives. The 10 largest positions made up 15.25% of assets.
What it really costs
- FUNL charges 0.5% a year, versus an average of 0.29% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $51 in the first year and $628 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| FUNL | $51 | $160 | $280 | $628 |
In a retirement portfolio
It spreads money across about 150 large U.S. companies with no position above about 2.2%, so it can work as a main stock holding, though it is actively managed and costs more than most similar funds.
FUNL launched in August 2020, so it has no record from the 2008 crisis or the 2020 COVID crash. In the 2022 bear market it fell 19.3% between January 14 and September 30, 2022. It took about 10 months to recover, getting back to its old high on August 1, 2023. For the full 2022 calendar year it lost 5.69%, its worst year so far. Anyone selling shares for income during that stretch would have been selling at lower prices.
Income is modest. The trailing 12-month yield was 2.25% as of October 27, 2026, and the fund pays twice a year. It charges 0.50% a year, about $51 in the first year on $10,000 under the SEC's standard example. Past results don't predict the future, and a retirement plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a rules-based, valuation-focused large-cap fund spread across about 150 U.S. companies, with no single stock above about 2.2% of assets.
- Those willing to pay 0.50% a year for model-driven stock picking that screens out companies with weak earnings quality or heavy debt.
- Holders who can live with drops like 2022's 19.3% decline, which the fund recovered from in about 10 months.
Look elsewhere if
- Cost-focused investors: Vanguard Value ETF (VTV), the closest match by holdings, charges 0.04% a year compared with FUNL's 0.50%.
- Anyone weighing recent results: FUNL ranked last of nine similar funds over one year and last of eight over three years to October 27, 2026.
- Investors who prefer large, heavily traded funds: FUNL had about $204 million in net assets as of December 31, 2025.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| FUNL this fund | — | 0.5% | $203.9M | +7.8% | +18.1% |
| VTV Vanguard Value ETF | 35% | 0.04% | $254.48B | +25.4% | +22.3% |
| DFLV Dimensional US Large Cap Value ETF | 34% | 0.22% | $6.77B | +27.5% | +23.4% |
| XOEX Xtrackers S&P 100 Ex Top 20 ETF | 32% | 0.15% | $274.6M | +14.1% | +21.1% |
| AFLG First Trust Active Factor Large Cap ETF | 32% | 0.55% | $761.1M | +14.8% | +24.7% |
| QLC FlexShares US Quality Large Cap Index Fund | 31% | 0.25% | $1.01B | +15.1% | +27.0% |
| GMOV GMO US Value ETF | 30% | 0.5% | $107.1M | +25.5% | — |
| JAVA JPMorgan Active Value ETF | 30% | 0.44% | $6.69B | +19.8% | +21.2% |
Questions investors ask
Is FUNL an actively managed ETF?
Yes. FUNL does not follow an index. CornerCap Investment Counsel picks stocks with its Fundametrics model. The model ranks about 500 large companies on valuation, earnings growth and cash flow, plus other factors. The fund can buy only the top 30%, and a separate risk screen then removes companies with warning signs. Because a model makes the decisions, the fund's results depend on how well that model works. The prospectus lists this as a risk.
What's the difference between FUNL and VTV?
Vanguard Value ETF (VTV) costs much less and has returned more lately. Based on N-PORT reports, about 35% of the two funds' holdings overlap. VTV charges 0.04% a year and FUNL charges 0.50%. VTV returned 25.4% over one year and 22.3% a year over three years as of October 30, 2026. FUNL returned 7.8% and 18.1% as of October 27, 2026. VTV is also far larger, with about $254.5 billion in net assets as of June 30, 2026.
Does FUNL pay dividends?
Yes, twice a year. Over the 12 months to October 27, 2026, FUNL paid $1.11 per share, a trailing yield of 2.25%. Much of that income comes from dividend-paying holdings such as Johnson & Johnson, Wells Fargo, Cisco and Citigroup, its largest positions as of December 31, 2025. The fund can also earn some extra income by lending its shares to brokers. Twice-yearly payments may suit people who don't need a steady monthly check.
What is FUNL's expense ratio?
FUNL's expense ratio is 0.50% a year, according to its prospectus filed July 29, 2025. That ranks 7th cheapest of 9 similar funds, which average 0.29%. Under the SEC's standard example, $10,000 invested with a 5% yearly return would cost about $51 after one year, $160 after three years, $280 after five years and $628 after ten years, with shares sold at the end of each period.
How did FUNL do in 2022?
FUNL lost 5.69% in calendar year 2022, its worst year since launch. During that year it fell 19.3% from its January 14 peak to its September 30 low. It got back to its earlier high on August 1, 2023, about 10 months later. Its worst quarter was the one ending June 30, 2022, down 11.97%. The quarter ending December 31, 2022 was its strongest, up 13.36%.